40 results
10-Q
2024 Q2
CUB
Lionheart Holdings
12 Aug 24
Quarterly report
4:15pm
For the Three Months Ended June 30, | For the Period from February 21, 2024 (Inception) Through June 30, | |||||||
2024 | 2024 | |||||||
Operating and formation costs | $ | 111,352 | $ | 133,612 | ||||
Loss from operations | (111,352) | (133,612) | ||||||
Other income: | ||||||||
Change in fair value | 240,830 | 240,830 | ||||||
Net income | $ | 129,478 | $ | 107,218 | ||||
Weighted average shares outstanding of Class A ordinary shares | 2,555,556 | 1,769,231 | ||||||
Basic and diluted net income per ordinary share, Class A ordinary shares | $ | 0.01 | $ | 0.01 | ||||
Weighted average shares outstanding of Class B ordinary shares | 6,777,778 | 6,743,590 | ||||||
Basic and diluted net income per ordinary share, Class B ordinary shares | $ | 0.01 | $ | 0.01 |
10-Q
2024 Q2
CUB
Lionheart Holdings
12 Aug 24
Quarterly report
4:15pm
As of June 30, 2024, the Class A ordinary shares subject to redemption reflected in the condensed balance sheet are reconciled in the following table:
Gross Proceeds | $ | 230,000,000 | ||
Less: | ||||
Proceeds allocated to Public Warrants | (460,000) | |||
Class A ordinary shares issuance costs | (14,417,130) | |||
Plus: | ||||
Remeasurement of carrying value to redemption value | 15,117,960 | |||
Class A Ordinary Shares subject to possible redemption, June 30, 2024 | $ | 230,240,830 |
10-Q
2024 Q2
CUB
Lionheart Holdings
12 Aug 24
Quarterly report
4:15pm
At issuance, the public warrants were valued using a Monte Carlo model. The public warrants have been classified within shareholders’ deficit and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the valuation of the public warrants:
June 20, 2024 | ||||
Market price of public stock | $ | 9.96 | ||
Term (years) | 6.53 | |||
Risk-free rate | 4.25 | % | ||
Volatility | 7.2 | % |
10-Q
2024 Q2
CUB
Lionheart Holdings
12 Aug 24
Quarterly report
4:15pm
FOR THE PERIOD FROM FEBRUARY 21, 2024 (INCEPTION) THROUGH JUNE 30, 2024
Class A Ordinary Shares | Class B Ordinary Shares | Additional Paid-in | Accumulated | Total Shareholder’ Equity | ||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Capital | Deficit | (Deficit) | ||||||||||||||||||||||
Balance — February 21, 2024 | — | $ | — | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Issuance of ordinary shares | — | — | 7,666,667 | 767 | 24,233 | — | 25,000 | |||||||||||||||||||||
Net loss | — | — | — | — | — | (22,260) | (22,260) | |||||||||||||||||||||
Balance – March 31, 2024 | — | $ | — | 7,666,667 | $ | 767 | $ | 24,233 | $ | (22,260) | $ | 2,740 | ||||||||||||||||
Accretion for Class A ordinary shares to redemption amount | — | — | — | — | (6,438,488) | (8,679,472) | (15,117,960) | |||||||||||||||||||||
Sale of 6,000,000 Private Placement Warrants | — | — | — | — | 6,000,000 | — | 6,000,000 | |||||||||||||||||||||
Fair Value of Public Warrants at issuance | — | — | — | — | 460,000 | — | 460,000 | |||||||||||||||||||||
Allocated value of offering costs to public and private warrants | — | — | — | — | (45,745) | — | (45,745) | |||||||||||||||||||||
Net income | — | — | — | — | — | 129,478 | 129,478 | |||||||||||||||||||||
Balance – June 30, 2024 | — | $ | — | 7,666,667 | $ | 767 | $ | — | $ | (8,572,254) | $ | (8,571,487) |
10-Q
2024 Q2
CUB
Lionheart Holdings
12 Aug 24
Quarterly report
4:15pm
Cash Flows from Operating Activities: | ||||
Net income | $ | 107,218 | ||
Adjustments to reconcile net income to net cash used in operating activities: | ||||
Payment of formation costs through promissory note | 5,000 | |||
Change in fair value of marketable securities | (240,830) | |||
Changes in operating assets and liabilities: | ||||
Prepaid expenses | (23,150) | |||
Prepaid insurance | (262,500) | |||
Deferred legal fee payable | 10,000 | |||
Accrued expenses | 12,149 | |||
Net cash used in operating activities | (392,113) | |||
Cash Flows from Investing Activities: | ||||
Investment of cash into Trust Account | (230,000,000) | |||
Net cash used in investing activities | (230,000,000) | |||
Cash Flows from Financing Activities: | ||||
Proceeds from issuance of Class B ordinary shares to Sponsor | 25,000 | |||
Proceeds from sale of Units, net of underwriting discounts paid | 226,000,000 | |||
Proceeds from sale of Private Placements Warrants | 6,000,000 | |||
Proceeds from promissory note - related party | 175,000 | |||
Repayment of promissory note - related party | (180,000) | |||
Payment of offering costs | (449,395) | |||
Net cash provided by financing activities | 231,570,605 | |||
Net Change in Cash | 1,178,492 | |||
Cash – Beginning of period | — | |||
Cash – End of period | $ | 1,178,492 | ||
Non-Cash investing and financing activities: | ||||
Offering costs included in accrued offering costs | $ | 113,480 | ||
Deferred underwriting fee payable | $ | 9,800,000 | ||
Deferred legal fee payable | $ | 110,000 |
10-Q
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IPO registration (amended)
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